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A Sequential Model of the Farm Firm Growth Process

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  • Ying I. Chien
  • Garnett L. Bradford

Abstract

Multiperiod linear programming and computer simulation techniques are integrated into a single recursive-sequential model of the farm firm growth process. The model is tied to dynamic theories of the firm's planning behavior first developed by Hicks and more recently by Modigliani and Cohen. A central Kentucky beef farm empirically illustrates predictive features of the model. Three alternative beef production management strategies are compared to demonstrate the model's potential for explaining and predicting alternative farm firm growth processes.

Suggested Citation

  • Ying I. Chien & Garnett L. Bradford, 1976. "A Sequential Model of the Farm Firm Growth Process," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 58(3), pages 456-465.
    • Handle: RePEc:oup:ajagec:v:58:y:1976:i:3:p:456-465.
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    File URL: http://hdl.handle.net/10.2307/1239262
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    Cited by:

    1. Walker, Odell L. & Hardin, Mike L. & Mapp, Harry P., Jr. & Roush, Clint E., 1979. "Farm Growth And Estate Transfer In An Uncertain Environment," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 11(1), pages 1-12, July.
    2. Bradford, Garnett L. & Boling, James A. & Rutledge, Stephen R. & Moss, Terry W., 1978. "Comparing Management Systems For Beef Cattle Backgrounding: A Multidisciplinary Approach," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 10(2), pages 1-6, December.
    3. Riebe, K., 1978. "Grenzen der Verwendung der Modelle der Unternehmensforschung in benutzerfreundlichen Planungssystemen - Korreferat," Proceedings “Schriften der Gesellschaft für Wirtschafts- und Sozialwissenschaften des Landbaues e.V.”, German Association of Agricultural Economists (GEWISOLA), vol. 15.
    4. Kazmierczak, Richard F., Jr., 1996. "Optimizing Complex Bioeconomic Simulations Using An Efficient Search Heuristic," DAE Research Reports 31661, Louisiana State University, Department of Agricultural Economics and Agribusiness.
    5. Beck, Anthony C. & Dent, J. Barry, 1987. "A Farm Growth Model For Policy Analysis In An Extensive Pastoral Production System," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 31(1), pages 1-16, April.

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